Sanctions

After leaving the European Union, the UK announced its new sanctions regime in the Sanctions and Anti Money Laundering Act 2018 (SAMLA). As part of the Sanctions Act, the UK Global Human Rights Sanctions Regime came into effect on 6th […]

Post-Brexit UK Sanctions: What You Need To Know Under the terms of the Brexit Withdrawal Agreement, the EU sanctions regime ceased to apply to the UK at 11pm on 31st December 2020. From that date, the UK’s new sanctions framework […]

Governments may impose sanctions on countries and individuals in order to punish violations of international law including human rights offences and financial crimes like money laundering and the financing of terrorism. In the shipping industry, international maritime sanctions are a […]

Customer Screening: Maximizing Effectiveness and Efficiency A Balancing Act If companies aren’t strategic in their approach to customer screening and monitoring, they risk being overwhelmed with alerts. Those companies face high operational costs, a nearly-impossible-to-clear backlog of alerts, longer remediation […]

The UN Security Council Sanctions Committee on North Korea first convened in 2006, prompted by North Korea’s claim in October of that year that it had successfully conducted a nuclear test. The resolution establishing the committee — resolution 1718 — […]

In order to pursue the United States’ foreign policy objectives, the US Treasury has imposed regulations and sanctions on North Korea in some form since 1950. The sanctions have the broad goal of pressuring North Korea to denuclearize but have […]

Economic sanctions are an important part of the global fight against financial crime, including money laundering and the financing of terrorism. In recent years, the number of economic sanctions in place across the world has increased significantly: in the United […]

Sanctions screening is integral to compliance with global anti-money laundering and counter-terrorist financing (AML/CFT) regulations. When implemented effectively, robust sanctions programs can help prevent enforcement action by regulators, protect reputations, and strengthen the overall integrity of the global financial system. […]

Increased enforcement efforts are shining a spotlight on anti-money laundering (AML) sanctions compliance. Firms increasingly must elevate their game to keep pace with regulators’ demands while still providing their customers with exceptional service — which means fast and frictionless service. […]

In recent years, government bodies have become quick to impose, lift or modify sanctions — sometimes within a few days’ or weeks’ time — to pursue their own interests. At the same time, the global economy requires a nuanced approach and, […]

European Union (EU) Sanctions List Economic sanctions are an essential part of the EU’s Common Foreign and Security Policy (CFSP) and are employed as part of the international effort to combat money laundering, terrorism financing and other financial crimes. To this […]

The United Nations is an international organization dedicated to promoting peace and security and sustainable economic development across the world. In pursuing those objectives, the UN works to combat financial crimes, including money laundering and terror financing, by imposing sanctions […]